The United States dollar ($) is the official currency of the United States of America. This currency is the most used form of money in international transactions and is one of the worlds reserves. Several other countries use it as their official form of currency as well.
The dollar bill used the decimal system (100 equal cents). The dollar is further broken up into pennies, nickels, dimes, and quarters. While notes are common in circulation, one dollar coins while still produced are very uncommon. United States Dollar notes are not made from common paper ( a wood fiber) , instead a cotton fiber paper.
The dollar has many nicknames. A “buck” is often referred to as a dollar. A “grand” or “G” is commonly used to refer to a thousand dollar increment. A “large” means an amount multiplied by a thousand. For example, 10 large, means ten thousand dollars. Hundred dollar bills have been nicknamed “Benjamins” over the years, as Ben Franklins face is on the cover. This is very common will all bills. Twenty dollar bills can be referred to as a “dub” or “Jackson,” seeing as its President Andrew Jacksons face on the bill.
The Federal Reserve is now in charge of regulating the US Dollar. But, by increasing the money supply resulted in stagflation, further resulting in the decline in value of the US Dollar in the early 1970’s. Between then and 1981 it had lost two thirds of its value. President Carter managed to stabilize the dollar in the 1980’s.
Unfortunately, from 1981-2009 the US Dollar lost half its value again. The Federal Reserve attempted to regulate a low rate of inflation in aims to stable out the inflation. The ongoing debates regarding inflation continue to be an on going issue.
